Bank of Canada governor Tiff Macklem has been appointed chair of the advisory committee to the Bank of International Settlements (BIS) for the Americas region.
On Tuesday, Macklem was named chair of the Consultative Council for the Americas — an advisory group that includes central banks from Canada, the U.S., Argentina, Brazil, Chile, Colombia, Mexico and Peru — for a two-year term, starting Jan. 1, 2025.
The committee, which was established in 2008, was previously headed by governor of the Central Bank of Brazil, Roberto Campos Neto.
Additionally, the group of global central bankers announced that the governor of the Bank of France, François Villeroy de Galhau, was re-elected as chair of the BIS board for a second three-year term, starting Jan. 12, 2025.
The board sets the group’s strategic direction and policy priorities, and oversees its management, among other functions.
Additionally, Pablo Hernández de Cos, the past governor of the Bank of Spain, whose term ended in June, was named as next general manager of the BIS.
Hernández de Cos will begin his five-year term on July 1, 2025, replacing Agustín Carstens.
During his term at the helm of Spain’s central bank, Hernández de Cos was a member of the governing council of the European Central Bank and chair of the Basel Committee on Banking Supervision from January 2019 to June of this year. He was also a member of the Financial Stability Board and the BIS Group of Governors and Heads of Supervision.